Here are the India Business News Headlines 18th September 2017:
- The upcoming auction of Aamby Valley resort town is believed to have got only two potential bidders. Real estate consultants are of the view that becuause of severe cash crunch being faced by the sector, it’s difficult for them to even arrange loans from banks for the property with a reserve price of Rs 37,392 crore.
- Fosun Pharma has agreed to buy 74% stake in Gland for $1.09 billion instead of 86% proposed earlier.
- More than 1,500 home-buyers of Jaypee Infratech and Amrapali Group have stopped paying EMIs. Industry experts are of the view that this move may make matters worse for buyers.
- Paytm Mall has announced its first four-day festive season sale ‘Mera Cashback Sale’ from 20th to 23rd Sept. Around Rs 501 crore shall go to customers in assured cashback.
- Flipkart season sale is to be held from Sept 20-24. Apart from offering personalised targeted products and solutions, Flipkart will also offer EMI’s on debit cards based on pre-approved limits of customers.
- The three major e-commerce giants, Amazon, Flipkart and Paytm Mall are spending around Rs 2,500 on festive sales this year. The gross merchandise value of the trio’s sales is expected to exceed $3.5 billion (Rs 22,400 crore).
- American private equity fund Warburg Pincus is in final stage of negotiations to acquire 20% stake in Indira IVF Hospital, India’s leading fertility hospital chain for Rs700 crore.
- Nomura has valued Zomato at $1.4 billion. As per Nomura’s estimates, Zomato’s sales could touch $300 million over the next five years.
- Airtel Payments Bank has integrated UPI on its digital platform. This will allow customers to make digital payments online and offline. For UPI based payments and transfers, customers are not required to furnish their bank details for transactions.
- Moms Co, a Mom and Baby Care startup has raised about Rs.6.5 Crores in seed funding. The funds are to be used to expand their product range.
*News as published in Business Standard, Live Mint and Economic Times.